New Delhi: Festive season has failed to reverse the negative sales trend in the domestic auto sector. Leading bikemaker Bajaj Auto has reported a 14 percent decline in its sales of motorcycles in the month of October this year.
The Pune-based company could sell 2,42,516 units of motorcycles during October in the domestic market as against 2,81,582 in the same month last year. It, however, saw a marginal increase of 3 percent in exports with a total of 1,56,397 units shipped to various countries during this period.
The company’s total sales of motorcycles remained negative during October 2019 amid demand slump.
In the commercial vehicle segment also, the sales declined with domestic and export delivery together falling 13 percent to 64,295 units.
Industry experts expect the auto sales cycle to witness a gradual recovery due to the confluence of factors such as increasing discounts, better rural sentiment, lower interest rates, higher government spending and a possible introduction of the scrappage policy.